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央行报告：充分发挥货币信贷政策导向作用_我的网站
A | 北京8月12日电（记者吴雨、任军）中国人民银行8月12日发布的报告称，下阶段将充分发挥货币信贷政策导向作用，不断完善工具设计和管理，扎实做好金融“五篇大文章”，加强对扩大内需、科技创新、中小微企业等重点领域的金融支持。 中国人民银行发布的2026年第二季度中国货币政策执行报告显示，今年以来，中国人民银行继续实施适度宽松的货币政策，出台了一系列货币金融政策，为经济持续向新向优创造适宜的货币金融环境。6月末，支持做好金融“五篇大文章”的结构性货币政策工具余额4.6万亿元。 报告称，中国人民银行围绕支持重大战略、重点领域和薄弱环节，不断优化和丰富结构性货币政策工具，推动融资结构不断优化。6月末，科技贷款、绿色贷款、普惠贷款、养老产业贷款、数字经济产业贷款分别同比增长12.6%、14.5%、7.8%、23.5%、15.1%，均高于全部贷款增速。 今年1月，中国人民银行新设1万亿元民营企业再贷款，激励引导地方法人金融机构支持中小微民营企业。报告显示，7月末，民营企业再贷款余额约8000亿元。 政策出台以来，地方法人金融机构积极响应。
B |
Last week ended with Federal Reserve Chairman Jerome Powell reiterating the central bank’s commitment to keeping interest rates high enough to choke off economic activity while bringing inflation back down to its 2% annual target.
“It is the Fed's job to bring inflation down to our 2 percent goal, and we will do so,” Powell said during his speech in Jackson Hole, Wyoming, on Friday. “We have tightened policy significantly over the past year. Although inflation has moved down from its peak – a welcome development – it remains too high. We are prepared to raise rates further if appropriate, and intend to hold policy at a restrictive level until we are confident that inflation is moving sustainably down toward our objective.”
That will be done while also keeping a close eye on incoming economic data, Powell added.
Well, there will be no shortage of new data this week from a consumer confidence reading for August, an update on second quarter gross domestic product, home prices for June and pending home sale for July, along with a bevy of reports on the labor market. And no doubt the stock and bond markets will continue to analyze Powell’s comments and price in any anticipated actions by the Fed.
“We believe the Fed will remain vigilant and data dependent in determining whether rates sustained at current levels for a longer period of time or further rate rises will be needed,” Vanguard senior economist Andrew Patterson said on Friday. “Our baseline is for the latter, another 1-3 hikes are possible over the next several months and into next year before leaving them on hold for some time and only cutting when broader macro conditions weaken, resulting in a shallow recession.”
One piece of the puzzle for Powell will be the health of the labor market. On Tuesday, the Labor Department will release the number of job openings as of the end of July. Analysts are forecasting the number at 9.45 million following June’s 9.6 million.
On Wednesday, private payroll firm ADP will release its monthly employment survey for August with 194,000 jobs expected following July’s supercharged 324,000 number.
But Friday brings the big data highlight of the week with the government’s report on nonfarm payrolls for August. Economists foresee another slip to 168,000 from 187,000.
Sandwiched in between are personal income and spending numbers for July as well as that month’s personal consumption price expenditures index. The inflation measure, while not as commonly known as the consumer price index, is one closely followed by the Fed. One reason that inflation has not come down closer to the Fed’s 2% annual target is that consumers continue to spend, buoyed by wage gains.
“Recession keeps getting pushed back and the staying power of the consumer is a key reason why,” said Sam Bullard, managing director and senior economist at Wells Fargo’s corporate and investment banking group. “Even as credit becomes harder to access for consumers and pandemic era savings get closer to running out, consumers continue to spend. June marked the largest monthly gain in real consumption since January, which suggests that PCE is set to start the third quarter on solid ground.”
The Fed’s monetary policy committee will meet again on Sept. 20. Although expectations have been for no change in the level of interest rates after July’s quarter-point increase, the odds of a hike at the next scheduled meeting in November are starting to creep up.
CME Group’s futures trading price the odds of a rate hike at the Fed’s November meeting at roughly 57%, up from 36% prior to Powell’s Jackson Hole comments.
。报告称，二季度末，地方法人金融机构中小微民营企业贷款余额约15万亿元，惠及市场经营主体约250万户。
C | 上半年，地方法人金融机构新发放中小微民营企业贷款加权平均利率较去年同期下降40个基点。
D | 根据报告，下阶段中国人民银行将继续实施好适度宽松的货币政策，用好各类结构性货币政策工具，发挥科技创新和技术改造再贷款、债券市场“科技板”作用，创新乡村振兴投融资机制，推动金融机构加大养老产业信贷支持，强化金融支持提振和扩大消费作用等。
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Published on:02:24:00